Horizon Brief Notes on Introducing Horizon Level Select Plans for the Midsize 100-250 Market
Posted on September 9, 2024
Applies to: Midsize (100 to 250) Commercial Market
Introducing Horizon Level Select Plans for the Midsize 100-250 Market
Beginning with January 1, 2025 effective dates, your larger midsize group customers (100-250 employees) can take advantage of our level-funding plans — Horizon Level Select. Your clients can choose from a variety of Horizon Level Select plan options — including OMNIASM Health Plans, Horizon Advantage EPO and Horizon Direct Access — that each include prescription drug coverage and wellness benefits.
With level-funding plans, employers:
- Only pay the actual claims, plus an administrative and stop-loss fee
- Receive a portion of excess funds
- Will benefit from a smoother cash flow than with traditional self-funded plans; a high-cost claim early in the plan year won’t impact their business
- Save by avoiding certain state health coverage mandates and reductions in state premium taxes
The Advantages of Horizon Level Select Plans
Our Horizon Level Select plans complement our existing plan portfolio by offering different levels of benefits, coverage and price points, including:
- Built-in protection with stop-loss coverage. Horizon Level Select plans include individual and aggregate stop-loss protection to provide peace of mind and protect your group customers from unforeseen costs.
- Cost-saving opportunities. If claims are lower than expected, groups will receive 50 percent reimbursement of the surplus — so a healthier employee population means potential cost savings.
- Healthier employees. Built-in wellness tools to help your group customers focus on getting and staying healthy.
- BlueCard® coverage. When your group customers choose a plan that has BlueCard, they get in-network, out-of-state coverage at a competitive price.
- Health Savings Account (HSA). With an HSA as part of a high-deductible health plan, covered members enjoy pretax savings they can use to pay for qualified medical expenses.
You can begin quoting Horizon Level Select plans on or around October 1, 2024 (for a January 1, 2025 effective date).
